5 Cryptocurrencies for New Investors to Buy for Easy 50x Gains in 2024

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The cryptocurrency market is currently undergoing a significant correction phase, particularly in the realm of altcoins. This correction follows the approval of the spot Bitcoin ETF, which has led to a noticeable drop in the market performance of altcoins.

However, many analysts view this downturn as a potential buying opportunity, considering it a typical correction phase in the market cycle. A recent Glassnode report highlighted a surge in the altcoin market cap by 68.9% since the filing of BlackRock’s iShares Bitcoin Trust (IBIT), coinciding with the increase in Bitcoin’s market cap. Despite this surge, altcoins have seen a decrease in market share overall, with their dominance dropping from 28.3% to 24.2% since the FTX collapse in November 2022.

Nevertheless, experts interpret this period as a calm before a potential surge, with many altcoins showing signs of aiming for a last high, indicating a possible uptick in the near future. Some analysts suggest that altcoins have already undergone a 30%-50% correction and are not expected to decline further, making it an opportune time for investors to consider increasing their positions.

Amidst this market scenario, cryptocurrencies like Connext Network (NEXT), Izumi Finance (IZI), ApeX Protocol (APEX), Mantle (MNT), and Xai (XAI) have emerged as attractive options for new investors. These cryptocurrencies are considered promising for potentially yielding significant returns, with some experts even suggesting the possibility of easy 50x gains in 2024.

Connext Network (NEXT): Pioneering Cross-Chain Token Distribution

Connext Network (NEXT) recently achieved a significant milestone by hosting the world’s first natively cross-chain token distribution in collaboration with Tokensoft. This event garnered immense interest, with around a million people signing up to participate, indicating a strong push for technology that enables tokens to move freely between chains. Connext Network (NEXT), founded in 2017, is recognized as a leading cross-chain messaging protocol, often referred to as “The HTTP of Web3.” It utilizes the ERC-7281 (xERC20) standard, facilitating seamless token transfers across blockchains.

The current price range for Connext Network (NEXT) fluctuates between $0.257 and $0.473. The 10-Day Moving Average stands at $0.310, while the 100-Day Moving Average is at $0.269. Support and resistance levels are noted at $0.113, $0.545, and $0.761, respectively. With its innovative approach to connecting tokens across chains and recent successful event, Connext Network (NEXT) shows promising signs for the future. However, its long-term success will also depend on the market’s embrace of its technological advancements and widespread adoption.

Izumi Finance (IZI): Fueling Growth with Strategic Funding

Izumi Finance (IZI) recently closed a $22 million financing round, signaling strong investor confidence and financial backing. This funding aims to support the early liquidity of iZiSwap Pro, an on-chain Order Book DEX product running on the zkSync Era network. Izumi Finance (IZI) is disrupting the DeFi landscape with its innovative fundraising tactics and strategic partnerships, signaling a robust future ahead.

Currently, Izumi Finance (IZI) trades in the range of $0.0088 to $0.0207, with the 10-Day Moving Average at $0.0142 and the 100-Day Moving Average at $0.0141. Support and resistance levels are identified at $0.0047, $0.0285, and $0.0404, respectively. The outlook for Izumi Finance (IZI) appears optimistic, bolstered by its recent successful funding round and the launch of iZiSwap Pro. However, its sustained growth will rely on continued innovation and user adoption in the competitive DeFi landscape.

ApeX Protocol (APEX): Revolutionizing Trading with T2E Program

ApeX Protocol (APEX) is enhancing its offerings with the launch of the second round of its trade-to-earn (T2E) program. This initiative rewards traders with BANANA tokens and expands the rewards pool for active participation, demonstrating ApeX Protocol’s commitment to community engagement and innovative incentives in the crypto trading space.

The current price range for ApeX Protocol (APEX) is between $1.85 and $2.83, with the 10-Day Moving Average at $2.05 and the 100-Day Moving Average at $1.42. Support and resistance levels are observed at $0.40, $1.38, $3.34, and $4.32, respectively. ApeX Protocol (APEX) shows potential for growth, especially with its innovative T2E program and the introduction of the BANANA token